Ericsson and Mastercard have announced a strategic partnership that will help shape the future of global money transfers and accelerate the financial inclusion process. With the combination of the Ericsson Fintech Platform (Mobile Financial Services) and Mastercard Move, telecom operators, banks, and fintech players will be able to improve their digital wallet offerings and provide new payment solutions to the unbanked and underbanked communities across the world.
The integration will utilize Ericsson’s pre-configured APIs, cloud-native architecture, and compliance-ready infrastructure to provide easy connectivity to Mastercard Move. This will minimize technical complexities and time-to-market for innovative payment solutions.
“Joining forces with Mastercard marks a bold step toward the future of money movement. Combining Ericsson’s trusted, scalable platform with Mastercard Move enables our customers to launch secure and efficient payment solutions faster than we ever have before. Together, we are driving financial inclusion, accelerating innovation, and creating new growth opportunities across the globe,” said Pavan Bachwal, Head of Mobile Financial Services, Ericsson.
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The collaboration emphasizes financial inclusion and accessibility. Mastercard Move supports transactions in 150 currencies across 200 countries and connects over 17 billion endpoints, while Ericsson’s fintech platform operates in 22 countries, serving more than 120 million active users and processing over four billion transactions per month across payments, digital wallets, remittances, lending, and loyalty services.
“Mastercard Move empowers payment service providers to shape the future of money movement — delivering fast, secure and transparent transfers for individuals and businesses worldwide. By integrating with Ericsson‘s fintech platform, we’re opening new pathways for telecom operators, financial institutions and fintechs to scale innovative payment services, reach underserved communities and unlock fresh revenue streams,” said Pratik Khowala, Global Head of Transfer Solutions, Mastercard.
The partnership will first launch in the Middle East and Africa. It will target areas with high demand for mobile money, remittances, and digital payment solutions. The goal is to improve global digital ecosystems. We aim to create new revenue opportunities and boost participation in the digital economy. This is especially important for underserved populations.
